2023 will be a “year of recovery” for the crypto world, after thehorrible year 2022 with the debacle of the cryptocurrency exchange FTX. At least that’s what Anthony “The Mooch” Scaramucci, Donald Trump’s former communications director and current head of Bitcoin-mad hedge fund SkyBridge Capital, thinks.
Why is this important?Scaramucci’s investment firm is one of a number of reliable backers of cryptocurrency exchange FTX that is in danger of seeing the sum of its investments go up in smoke. The FTX cryptocurrency platform, the brainchild of young Sam Bankman-Fried (SBF), has reportedly operated for years without separating customer and proprietary operations. The centralized exchange held too few reserves to withstand a full-blown bank run and then collapsed; a fiasco that has infected the entire cryptocurrency world.
In the news : “The Mooch” and its juicy quotes.
Comments on the stab in the back he felt when the fraudulent actions of the FTX founder, who he says was a friend of his, came to light:
- “If anyone here has read hell by Dante Alighieri, you know what the ninth circle of hell is for,” he explains at a blockchain conference in Davos, Switzerland. “It is for the betrayal of a friend who lives with the devil – the ninth circle of hell on the frozen lake . »
- Speaking in more detail about his relationship with Bankman-Fried at the same event, the hedge fund head admitted he had “mistakenly” bet on someone he trusted almost unconditionally.
- He concludes: “I thought Sam was the Mark Zuckerberg of cryptocurrencies, not that he was the Bernie Madoff of cryptocurrencies.”
Faith in crypto-adoption
Other statements from Mooch: Confidence in cryptocurrencies, and in Bitcoin in particular, remains intact for the exuberant Italian-American investor. For example, he has repeatedly stressed that FTX’s failure has nothing to do with the potential of crypto technology.
- The founder of SkyBridge also said so CNBC who expected 2023 to be a “year of recovery” for cryptocurrencies. In the longer term, a Bitcoin rally will push the token’s price to highs of $50,000 to $100,000, he estimated.
- “You take risks, but you also believe in adoption,” Scaramucci argued. “So if we are successful in adopting — and I believe we will — this could easily become an asset (worth $50,000 to $100,000) over the next two to three years. »
- Notable Scaramucci News: Former Trump Press Secretary To Put His Money Into New Crypto Firm Owned By Someone Who Previously Worked For FTX, Reports Bloomberg.
- What is clear in all this is that Scaramucci strongly believes in the new start-up of Brett Harrison, the former CEO of the American branch of FTX: “Brett, I am proud to be an investor in your new business. Go ahead. Don’t look back. All the best,” Scaramucci tweeted in response to a Twitter thread in which Harrison detailed his experience at FTX.
- Fundraising financial goal reports vary. The information reports that Harrison is seeking $6 million in financing, with a total company valuation of $60 million. CoinTelegraphtalks about 10 million dollars, for a valuation of 100 million dollars.